To clarify things, the check I was referring to came from my former employer for the total amount in my 401k plan. It was a direct rollover to my bank which offers no fee Ira's. But the check didn't get to the bank until after the Jan. 1 2001. Ihe money is in a traditional IRA at the bank right now and I want to convert that to a Roth. I want to pay the taxes on the conversion on my 2000 income taxes, but the bank said I would have to wait until next year because they didn't recieve the money until after Jan. 1, 2001. I think they are wrong. I hope this clarify's things.

It does; thank you. IMO the bank is correct. Since they didn't have anything to convert in 2000, there can be no conversion income for 2000. You'll have to decide whether you want to convert to Roth in 2001, assuming you're eligible.

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